Agilent Expands Pathology Portfolio with $950 Million Biocare Deal

In a strategic move to expand its pathology portfolio, Agilent Technologies Inc. has entered into a definitive agreement to acquire Biocare Medical, a global leader in immunohistochemistry (IHC) and molecular pathology solutions. The all-cash transaction, valued at $950 million, will enhance Agilent’s capabilities in cancer diagnostics and clinical pathology, areas that continue to experience growth due to increasing demand for early detection and precise diagnostics.

Biocare Medical, known for its innovative portfolio of IHC, in situ hybridization (ISH), and fluorescence in situ hybridization (FISH) solutions, has seen significant revenue growth, with over $90 million in revenue in 2025. The company’s high-quality products and a proven R&D track record have made it a key player in the global pathology market. Since 2021, Biocare has achieved annual double-digit revenue and profit growth, further solidifying its position in the IHC space.

Agilent President and CEO Padraig McDonnell expressed, “The acquisition of Biocare enhances Agilent’s pathology portfolio and reflects our strategy to drive long-term growth through customer-centric innovation and disciplined capital allocation.”

The acquisition will bring about several strategic and financial benefits. Agilent will expand its commercial footprint globally, particularly in the US, while gaining access to Biocare’s cutting-edge antibody, reagent, and instrument portfolio. Biocare’s innovation in IHC solutions will be complemented by Agilent’s global resources, further accelerating product development and market expansion.

The transaction is expected to close by Agilent’s fourth fiscal quarter of 2026, pending regulatory approvals. Once completed, Biocare will become part of Agilent’s Life Sciences and Diagnostics Markets Group.